Alere Inc. (ALR) Sees Unusually-High Trading Volume
Shares of Alere Inc. (NYSE:ALR) saw unusually-strong trading volume on Tuesday . Approximately 942,658 shares changed hands during trading, an increase of 21% from the previous session’s volume of 782,029 shares.The stock last traded at $38.38 and had previously closed at $39.95.
A number of analysts recently issued reports on ALR shares. Zacks Investment Research cut Alere from a “hold” rating to a “sell” rating in a research note on Wednesday, March 23rd. Canaccord Genuity reaffirmed a “hold” rating and set a $56.00 price target on shares of Alere in a research report on Wednesday, March 16th. Leerink Swann raised Alere from a “market perform” rating to an “outperform” rating and set a $56.00 price target for the company in a research report on Thursday, April 28th. BTIG Research downgraded Alere from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 15th. Finally, Craig Hallum raised Alere from a “hold” rating to a “buy” rating in a research report on Friday, April 29th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Alere presently has an average rating of “Hold” and a consensus target price of $52.38.
The firm has a market capitalization of $3.33 billion and a price-to-earnings ratio of 10.20. The stock’s 50 day moving average is $41.71 and its 200 day moving average is $45.12.
A number of hedge funds recently modified their holdings of ALR. Jennison Associates LLC boosted its stake in shares of Alere by 124.1% in the fourth quarter. Jennison Associates LLC now owns 1,009,883 shares of the company’s stock worth $39,476,000 after buying an additional 559,240 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Alere by 12.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,306,319 shares of the company’s stock worth $90,154,000 after buying an additional 248,224 shares during the period. Tamarack Advisers LP bought a new stake in shares of Alere during the fourth quarter worth about $8,795,000. Gabelli Funds LLC boosted its stake in shares of Alere by 12.0% in the fourth quarter. Gabelli Funds LLC now owns 1,125,450 shares of the company’s stock worth $43,994,000 after buying an additional 120,700 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Alere during the fourth quarter worth about $4,585,000.
Alere Inc is a provider of health information through diagnostic tests. The Company operates through professional diagnostics, patient self-testing, consumer diagnostics and, corporate and other segments. The professional diagnostics segment includes an array of diagnostic test products and other in vitro diagnostic tests marketed to medical professionals and laboratories for detection of diseases and conditions within its areas of focus.
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